PRIVACY ACT 1988

PART II - INTERPRETATION  

Division 2 - Key definitions relating to credit reporting  

Subdivision B - Other definitions  

SECTION 6S   MEANING OF NEW ARRANGEMENT INFORMATION  

Consumer credit defaults

6S(1)  
If:


(a) a credit provider has disclosed default information about an individual to a credit reporting body; and


(b) the default information relates to a payment that the individual is overdue in making in relation to consumer credit (the original consumer credit ) that has been provided by the provider to the individual; and


(c) because of the individual being so overdue:


(i) the terms or conditions of the original consumer credit that relate to the repayment of the amount of credit are varied; or

(ii) the individual is provided with other consumer credit (the new consumer credit ) by a credit provider that relates, wholly or in part, to that amount of credit;

then new arrangement information about the individual is a statement that those terms or conditions of the original consumer credit have been varied, or that the individual has been provided with the new consumer credit.

Serious credit infringements

6S(2)  
If:


(a) a credit provider is of the opinion that an individual has committed a serious credit infringement in relation to consumer credit (the original consumer credit ) provided by the provider to the individual; and


(b) the provider has disclosed the opinion to a credit reporting body; and


(c) because of the provider having that opinion:


(i) the terms or conditions of the original consumer credit that relate to the repayment of the amount of credit are varied; or

(ii) the individual is provided with other consumer credit (the new consumer credit ) by a credit provider that relates, wholly or in part, to that amount of credit;

then new arrangement information about the individual is a statement that those terms or conditions of the original consumer credit have been varied, or that the individual has been provided with the new consumer credit.




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